The market for setup relievers is starting to take shape, and free agent Mark Lowe is drawing interest from a number of teams.

The Dodgers, Giants, Brewers, Angels and Rays are among the clubs that have checked in on the right-hander, major-league sources told FOXSports.com. Of that group, Milwaukee’s need for bullpen help is particularly acute.

Lowe, 29, appeared in 88 games for the Texas Rangers over the past two seasons, with a 3.63 ERA and 1.34 WHIP. He missed roughly six weeks in the middle of the 2012 season with a strained right intercostal muscle.

Much of the offseason trade speculation involving the Arizona Diamondbacks has centered on right fielder Justin Upton.

But sources told FOXSports.com late Monday that the team has had at least as much trade dialogue in recent days about outfielder Jason Kubel.

Kubel spent his entire career in the American League until signing with the Diamondbacks before this season, and he would fit well with a number of AL clubs – including the Red Sox, Orioles, Yankees, Rays, Rangers and Mariners.

It’s possible that Kubel will draw interest from a larger number of teams than Upton, because his contract is smaller and asking price likely lower. Upton is due $38.5 million over the next three seasons, while Kubel is under contract for $7.5 million this year with a $7.5 million mutual option for 2014.

Kubel is coming off a better offensive season than Upton, with an .833 OPS compared to .785 for Upton. But Upton is coveted for his overall skill set (an average of 23 home runs and 19 stolen bases over the past four seasons) and youth (25).

If the Diamondbacks deal Kubel and keep Upton, they could have a starting outfield of Gerardo Parra, Adam Eaton and Upton, with A.J. Pollock ready to assume a greater role.

The Baltimore Orioles don’t plan to make big changes to a roster that produced 93 wins and the franchise’s first postseason berth in 15 years.

The team has downplayed the chances it will sign an expensive superstar like Josh Hamilton, focusing instead on lower-cost veteran acquisitions.

The Orioles have interest in free-agent right-hander Brett Myers as a rotation upgrade, sources say. Myers pitched exclusively as a reliever in 2012 but was a starter in 66 of 67 games over the previous two seasons.

Apart from that, the Orioles would like to add an outfielder. That would allow Chris Davis, who finished this year in right field, to play first base or serve as the designated hitter. The Orioles have no shortage of options, with Nate McLouth (an Oriole this year), Cody Ross, Delmon Young, Scott Hairston, Xavier Nady and Ryan Sweeney among the free agents on their interest list.

Orioles general manager Dan Duquette seems confident that he won’t have to trade for an outfielder, because there are so many available via free agency.

Talk of the Detroit Tigers pursuing a shortstop may have been overblown.

The team cooled on free agent Stephen Drew due to his desire for a multi-year contract and has not discussed a trade for the Indians’ Asdrubal Cabrera, according to a source with knowledge of the club’s thinking.

Instead, the club is focused on adding a left-handed reliever and finding a right-handed platoon partner for Andy Dirks in left field, the source said.

One outfielder in whom the Tigers have interest, according to a second source: Free agent Scott Hairston, who also is a target of the New York Yankees and New York Mets.

The Tigers earlier this offseason signed free-agent right fielder Torii Hunter to a two-year, $26 million contract.

The team has an opening for a closer, but club officials are excited by the progress of rookie right-hander Bruce Rondon, who has touched 102 mph in the Venezuelan winter league, according to scouts.

As for shortstop, Drew seemed a possible fit on a one-year deal. The Tigers then would have traded Jhonny Peralta, possibly to the Arizona Diamondbacks.

For now, the job still belongs to Peralta. Drew still could re-emerge as a possibility if his market fails to develop, but the Indians’ Cabrera appears out of the question.

Cabrera has a six-team no-trade clause that covers the Tigers, New York Yankees, Boston Red Sox, Washington Nationals, San Francisco Giants and New York Mets, a source said.

In the vein of old-fashioned baseball trades: How about Dexter Fowler for Homer Bailey?

We know this much, from major-league sources: The Colorado Rockies like Bailey, the right-hander who looked like a legitimate No. 2 starter for long stretches of this year. The Cincinnati Reds like Fowler, the antidote to their worst-in-the-majors .581 OPS from the leadoff spot. Now the question is whether the mutual interest crystallizes into trade discussions during this week’s winter meetings in Nashville, Tenn.

On a very basic level, the fit is there: The Rockies are desperate to improve their pitching staff and have had trouble luring free-agent starters to Coors Field. After a season in which many of their homegrown starters struggled as the team posted the worst ERA in the majors, the Rockies may have little choice but to trade from a position of strength. The Reds need at least one more outfielder but have said they are close to their payroll limit — thus rendering them spectators in the Michael Bourn sweepstakes.

And the Reds just happen to have a surplus of starting pitchers, provided Aroldis Chapman succeeds in his transition to the rotation.

The talks could be helped along by the fact that Bailey and Fowler earn comparable salaries. According to the MLBTradeRumors.com arbitration calculator, Bailey is projected to earn $5.1 million in 2013, Fowler $4 million. Bailey is on track to become a free agent after the 2014 season, Fowler after 2015.

Both players are coming off career-best seasons. Rival teams have said the asking price is exceedingly high for Fowler, the switch-hitting center fielder who amassed an .863 OPS this year. Bailey inched closer to his considerable potential this year, making 33 starts and surpassing the 200-inning mark for the first time while cutting his ERA to 3.68.

The Reds are considering a number of alternatives for their outfield, including free agents Ryan Ludwick and Cody Ross. One source suggested they may be reluctant to commit to Fowler in center field for the long term knowing that the dynamic prospect Billy Hamilton is on the verge of breaking into the majors. Yet, it is hard to fathom a better fit than Fowler if the Reds want to address their lack of production in center field and at the leadoff spot with a single move.

NASHVILLE, Tenn. — In Oct. 2011, left-hander Derek Holland was one of the Texas Rangers’ darlings, nearly pitching a shutout in Game 4 of the 2011 World Series.

Last March, Holland agreed to a five-year, $28.5 million contract extension that includes club options for 2017 and ’18.

But as the winter meetings begin, Holland suddenly could become available in a trade, according to major-league sources.

Such a move could happen only if the Rangers acquired another starting pitcher first, sources say, and is only one of multiple scenarios that the team has in play.

The Rangers are one of the teams talking to free-agent right-hander Zack Greinke. They also are trying to re-sign their own free agents, outfielder Josh Hamilton and catcher/first baseman Mike Napoli.

The team’s current starters are righties Yu Darvish, Alexi Ogando and lefties Holland, Matt Harrison and Martin Perez — and Ogando is something of an unknown after making 57 of his 58 appearances in relief last season. Righty Colby Lewis looms as another option later in the season; he could return from elbow surgery after the All-Star break.

Trading Holland, then, would make sense only if the Rangers added another starter. For example: If the team signed Greinke, it possibly could offer Holland and third-base prospect Mike Olt to Arizona for right fielder Justin Upton, who would help replace any offense lost with the defections of Hamilton and/or Napoli.

Holland, 26, went 12-7 with a 4.67 ERA last season, regressing after a 16-win, sub-4.00 ERA season in ’11. He is guaranteed $26 million over the next four years, with club options of $11 million and $11.5 million for ’17 and ’18.

Chicago Cubs outfielder Alfonso Soriano has been available on the trade market at various times over the past several years.

This winter, he might finally be on the move.

The Cubs expect to meet with teams regarding Soriano during the upcoming winter meetings in Nashville, according to major-league sources. It won’t necessarily be easy to deal Soriano, who has a full no-trade clause and is due a total of $36 million over the next two seasons.

Still, the 36-year-old is likely to garner strong interest from teams who need right-handed power, as he is coming off his highest home run total (32) over the past five seasons. The Cubs are willing to include cash in the deal to put Soriano at a more palatable price point. But Soriano may be more valuable than expected, when considering free agent Jonny Gomes, a platoon player for much of his career, just signed a two-year, $10 million contract with the Boston Red Sox.

The Philadelphia Phillies are one obvious fit for Soriano. They are looking for a right-handed outfield bat to replace Hunter Pence, who was dealt to the San Francisco Giants at the July trade deadline. With Pence gone and catcher Carlos Ruiz suspended to begin the season, the Phillies have only one player on their active roster — shortstop Jimmy Rollins — who hit more than 15 home runs in 2012, when Ryan Howard and Chase Utley missed time with injuries.

Soriano’s presence would be a welcome fit for a Philadelphia outfield that currently consists of Darin Ruf, John Mayberry Jr. and Domonic Brown. Soriano totaled an .821 OPS this year while setting a career high with 108 RBI.

The Phillies pursued Soriano when he became a free agent after the 2006 season, but the Cubs won the bidding with an eight-year, $136 million deal.

While the Toronto Blue Jays are open to trading any of their three catchers, there is, well, a catch.

“None is cheap,” a rival executive says, referring to the acquisition cost in a trade, not the players’ salaries.

The Jays non-tendered Bobby Wilson on Friday night, leaving J.P. Arencibia, John Buck and Travis D’Arnaud as the remaining catchers on their 40-man roster.

Arencibia, 26, is the most likely to be moved — and the Jays previously have talked about him in trades for pitchers such as Tampa Bay Rays right-hander Wade Davis and New York Mets left-hander Jon Niese, major-league sources say.

The Jays might need to offer more than Arencibia to acquire such a pitcher, but aren’t necessarily eager to make that type of move. Arencibia is still a year away from arbitration, and the Jays control him for four more years.

D’Arnaud, the team’s top catching prospect, did not play after June 25 last season due to a knee injury. Buck, 32, batted .192 with a .644 OPS for the Miami Marlins last season.

As for starting pitching, it’s true that the Jays would like to find more even after acquiring right-hander Josh Johnson and lefty Mark Buehrle in their blockbuster with the Marlins.

The team, however, seems more inclined to add depth than find an upgrade over its fifth starter, lefty J.A. Happ, sources say.

Thus, the Jays could look to sign a low-end free agent as well as minor-league free agents, ensuring that they are better protected against injuries than they were last season.

A quick assessment of what the moves mean for other players in the Hot Stove League:

● The Philadelphia Phillies: Upgrades by National League East rivals on back-to-back days have fueled speculation that Phillies general manager Ruben Amaro Jr. will want to make a splashy offseason move. Free agent Josh Hamilton, whose market is unclear, would match that description.

● Michael Bourn: From a sheer standpoint of available options, this hasn’t been a good week for Bourn and his agent, Scott Boras. The Braves and Nationals were in the market for center field/leadoff types. No more. Will Boras be able to find a team willing to pay Upton-type money to someone with a career OPS of .704?

● Adam LaRoche: News of the Span trade was similarly unwelcome for LaRoche. He’s effectively out of a job in Washington, since Span’s arrival there means Bryce Harper will play left field while Mike Morse takes LaRoche’s former job at first base — unless, of course, the Nationals decide to trade Morse and sign LaRoche, but that possibility seemed remote as of Thursday. The Red Sox have interest in LaRoche but are pursuing Mike Napoli, too.

● Hamilton: It’s unclear whether the Upton and Span moves will help or hurt Hamilton, because his options remain so undefined. The Nationals could have been a landing spot — the ownership is wealthy, the general manager has a history of bold moves — but that possibility has been extinguished. One GM speculated that the Orioles and Mariners remain the most plausible suitors for Hamilton. But the ultimate destinations of high-dollar players in recent years have almost always come as big surprises (Albert Pujols, Prince Fielder, Carl Crawford, Jayson Werth, Cliff Lee, et al).

Right-hander Ryan Madson agreed to a one-year, $3.5 million deal Wednesday with the Los Angeles Angels. But Madson can earn as much as $7 million if he remains healthy and emerges as the Angels’ closer.

His contract includes five roster bonuses that could add up to $2.5 million and four bonuses for games finished that could add up to $1 million, according to a source with knowledge of the contract.

Madson, 32, had Tommy John surgery last April, but his agent, Scott Boras, believes he can ready by Opening Day and the Angels share that optimism, sources say.

Madson will receive his roster bonuses as long as he does not suffer an injury related to his right arm; if he went on the disabled list with say, a hamstring or groin injury, the days would not count against him.

The way the contract reads, Madson would receive $500,000 at each of the following thresholds — 45 days, 90 days, 135 days and 180 days (a full season) — as long as he is not on the DL with an injury to his arm.

He also would receive $250,000 at each point if he finishes 35, 40, 45 and 50 games — thresholds that he could reasonably attain if he established himself as the team’s closer.

Right-hander Ernesto Frieri and lefty Scott Downs are among the Angels’ other options for the ninth inning.

The Kansas City Royals have discussed outfield prospect Wil Myers in trades for Tampa Bay Rays right-hander James Shields and Boston Red Sox lefty Jon Lester, according to Bob Dutton of the Kansas City Star.

Great idea. But who says Shields and Lester are equal?

True, their contracts are similar — Lester, 28, is owed $24.625 million through 2014, while Shields, 30, is owed $21 million. But Shields was the better pitcher last season, and has been an absolute beast for the past two years.

Lester, meanwhile, is coming off a career-high 4.82 ERA after four straight sub-3.50 seasons. His average fastball velocity of 92 mph in 2012 was the lowest it has been since ‘08, according to PitchFx data on Fangraphs.com. His cutter also declined in effectiveness, and in general, he was hit harder than before.

Some of Lester’s struggles might have resulted from poor luck — his .318 opponents’ batting average on balls in play was the fifth-highest in the AL, and his fielding-independent pitching mark was nearly as good as that of Rangers lefty Matt Harrison, who finished with a 3.29 ERA.

The Royals, if they acquired Lester, would count on a bounce-back season — the same type of season the Red Sox surely anticipate, particularly now that Lester is reuniting with his former pitching coach, new Boston manager John Farrell.

Shields, on the other hand, seems to be peaking.

His 477 innings the past two seasons rank second in the majors only to Justin Verlander, and his 3.15 ERA during that time rank fifth in the AL among pitchers with 60 or more starts. His stuff, if anything seems, to be getting better. His average fastball velocity of 92 mph last season was the highest of his career.

In baseball as in life, beauty is in the eye of the beholder. Perhaps the Royals actually see Lester and Shields as similar. Perhaps they would seek to expand the deals to compensate for any perceived difference in value.

True, Myers could develop into a star. But either Lester or Shields would amount to a major two-year upgrade for the Royals, giving the team a legitimate ace in front of right-handers Ervin Santana and Jeremy Guthrie in ‘12.

The question, then, is not only whether the Royals will pull the trigger, but also which target they prefer.

While the New York Yankees remain the favorites to sign Russell Martin, they are not the only team pursuing him.

The free-agent catcher also is drawing significant interest from the Texas Rangers, Seattle Mariners and Pittsburgh Pirates, according to major-league sources.

The Rangers, in particular, could pose a threat to the Yankees, who intend to be under the $189 million luxury-tax threshold by 2014.

Martin, 29, almost certainly will command a multi-year deal, and the Rangers conceivably could pressure the Yankees by making him a substantial offer.

On the other hand, the Yankees might not be willing to risk losing Martin over a difference of say, $2 million per season.

The average annual salary of players on multi-year contracts is used for luxury-tax purposes. The Yankees want to reduce their payroll below $189 million by ’14 to reap a variety of significant financial benefits under the new collective-bargaining agreement.

Both the Yankees and Rangers are thin at catcher. The Pirates, too, have a glaring need at the position, while the Mariners are looking for offense at a variety of spots. A.J. Pierzynski, who will turn 36 on Dec. 30, is the only other prominent catcher on the open market.

The Yankees need Martin or another regular catcher because all of their other options — Chris Stewart, Eli Whiteside, Francisco Cervelli and Austin Romine — project as backups next season.

Geovany Soto, a non-tender candidate, is the only experienced catcher on the Rangers’ roster. Michael McKenry is the only catcher on the Pirates’ roster, period.

Jesus Montero and John Jaso are the Mariners’ returning catchers, but Montero likely will be more of a DH next season.

Most of the talk around the Indians this offseason revolves around which players they will trade, from right fielder Shin-Soo Choo to shortstop Asdrubal Cabrera, right-hander Justin Masterson to closer Chris Perez.

Yet, according to major-league sources, the Indians aren’t limiting their search to improve, even while considering moves that seemingly will result in a step backward.

In fact, club officials are checking in on most of the available players in trades and free agency, even ones who seemingly will be out of their financial reach.

Case in point: Free-agent outfielder/first baseman Nick Swisher.

The Indians likely stand no chance of signing Swisher, who is drawing interest from a number of clubs and could emerge as a viable alternative for teams that fail to land the market’s biggest prize, Josh Hamilton.

Swisher, though, is from Parkersburg, WV, a city not far from the Ohio border. He attended Ohio State University. And, like most players, he holds new Indians manager Terry Francona in high regard.

Does any of that mean that the Indians will sign Swisher? Of course not. But just as teams act as buyers and sellers at the trade deadline, the Indians could function as both this off-season — and maybe even pull off a surprise.

The Colorado Rockies would seem a good bet to join the salary-dump parade. But don’t count on it happening.

The team does not intend to trade either of its highest-priced players, shortstop Troy Tulowitzki or outfielder Carlos Gonzalez, according to major league sources.

A knockout offer could alter such plans quickly, but the Rockies are reluctant to make a dramatic move with Tulowitzki and/or Gonzalez for two reasons, sources say:

*The team’s position players, when healthy, are capable of forming a dominant offense at hitter-friendly Coors Field.

*The pitchers who appeal to the Rockies are affordable strike throwers with high groundball rates, and not even players as good as Tulowitzki and Gonzalez would bring back enough arms who fit that narrow description.

To illustrate the difficulty of the Rockies’ quest, consider how limited their options would be if they wanted to trade a lesser player such as center fielder Dexter Fowler to a pitching-rich team such as the Atlanta Braves.

Fowler, 26, is reasonably attractive; his defensive metrics aren’t especially good, but he had an .863 OPS last season (.720 on the road) and is under club control for three more seasons.

Problem is, which Braves pitchers would fit at Coors Field?

Not Tommy Hanson, Mike Minor or Brandon Beachy — all are flyball types. Tim Hudson would be perfect, but he is under contract for only one more year and the Braves wouldn’t trade him easily, if at all. Kris Medlen, too, would be ideal, but no way the Braves would move him.

OK, now let’s ponder Gonzalez to the Texas Rangers. The Rockies surely would love to get Matt Harrison or Alexi Ogando, but what are the odds? Not great, and the Rockies would be better off keeping Gonzalez and his club-friendly contract than making a bad trade.

On the other hand, the potential benefit of such a deal financially would be difficult for the Rockies to dismiss.

Tulowitzki, who did not play after May 30 last season due to a groin ailment that eventually required surgery, is owed $140 million over the next eight years. Gonzalez is owed $74 million over the next five.

Neither player has a no-trade clause, and the assignment bonuses in their contracts are barely a deterrent. Gonzalez gets $1 million each time he is traded, Tulowitzki $2 million the first time.

Eventually, the Rockies figure to move one or the other. Just not yet.